US gasoline prices are projected to reach an unprecedented $4.03 per gallon during the Labor Day weekend, according to a Reuters report. This surge is driven by rising crude oil prices amid escalating tensions between the United States and Iran. Prediction markets estimate a 1.7% probability of crude oil reaching a new all-time high by September 30, and 9.5% by year-end. Analysts are closely monitoring geopolitical developments and OPEC decisions, particularly from Mohammad Sanusi Barkindo and Saudi Energy Minister Abdulaziz bin Salman Al Saud, which could impact oil prices.
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